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escalates the fight on the w economy. is the debt ceiling negotiable? your thoughts? send us a tweet or post your comment on facebook. you can also send us an e-mail. president obama held his last official news conference of the first term yesterday in the east room of the white house. here's what he had to say on the debt ceiling debate. [video clip] >> republicans and congress have two choices. they can act responsibly and pay america's bills or they can act irresponsibly and put america through another economic crisis. but they will not collect ransomed in exchange for not crashing the american economy. the financial well-being of the american people well-being is not a leverage to be used. the full faith and credit of the united states is not a bargaining chip. they had better choose quickly, because time is running short. the last time republicans in congress even flirted with this idea, r. triple-a credit rating was downgraded for the first time in our mystery, our businesses created the few jobs in any month in nearly the past three years, and the whole fiasco added to the deficit. ho
to you and you will not be touched by gun violence, you are fooling yourself. >> the debt ceiling debate continues. >> the real issue here is, we all know, is spending. >> what are the risks of huge dispense cuts? >> operation commitment, and trading will be gutted. we will ground aircraft, return ships to port, and sharply curtail training across the force. >> a bill before the while the state legislature would make a federal legend try to enforce a ban on arms federal -- guilty of a felony. there are similar measures in texas. the governor of mississippi want to make it illegal in the state to makin force any new gun laws. how many times have we had this debate? this time after the massacre in connecticut, the president says it is different. the president has said 23 executive order is aimed at reducing gun violence and is urging congress to reduce -- and it back crunchers' for all gun sales purity is also asking americans to put heat on members of congress to get there. >> ask for a member of congress if they support universal back rent checks to keep guns out of the wrong hands. if t
coming up is the so-called debt ceiling -- something most americans hadn't even heard of before two years ago. i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. if congressional republicans refuse to pay america's bills on time, social security checks and veterans' benefits will be delayed. we might not be able to pay our troops, or honor our contracts with small business owners. food inspectors, air traffic controllers, specialists who track down loose nuclear material wouldn't get their paychecks. investors around the world will ask if the united states of america is, in fact, a safe bet. markets could go h
. >> well, good luck with tha >>> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and water not a dead beat nation. >> sounds simple, doesn't it? but like so many other crises and standoffs from the past two years, raising the nation's debt ceiling is a zero sum props. somebody wins only if somebody else loses. we're speaking of of course politically here, not financially. economically it's hard to find any winners if the treasury can't close the budget gap. runs about $100 million every month. my next guest worries about it a lot. signor partner and managing director of the boston consulting group and author and columnist. so this becomes tricky for people tound, but essentially the debt ceiling, is it the kind of tool that anybody should be used in order to force people to be more austere in the way they spend in the future? >> well, it's a way to do it, but it's a very dangerous way to do it because we start playing with everybody in our economy eye lives. so if we hit the debt ceiling and we don't have a bill that changes
more people care about that issue than the debt ceiling. >> bill: they get too full of themselves. the problem with the front row particularly the press corps is they represent different networks. they all want to talk about let's say, for example guns. they all want to be on camera asking the question about guns and it doesn't matter if somebody else has already asked the question five different times in five different ways, they're still going to ask it so they can get on camera. that's what's wrong with the press briefings. >> thank you very much for your tweet. >> if you go to the newseum web site and you look at what the country is talking about it is a rich quilt of different issues, different ideas that people around this country are discussing. and the washington press corps questions of one or two topics doesn't even big to cover -- begin to cover what reporters around this country are reporting on, talking about. that disconnect is really jarring, i think. >> bill: it is jarring. i remember as a reporter in los angeles and a comment tater in los angeles, covering preside
a new plan to eliminate the debt ceiling, claiming the gop is exploiting the issue for political gain. doug mckelway is live in washington with more on the democratic plan and the road ahead. hi, doug. >> reporter: hi, jenna. this democratic plan in a nutshell would basically do away with the statute that calls for the debt ceiling in the first place, allowing spending in effect to go up and up and up without the artificial cap that the debt ceiling is indeed. democrats are explaining this in a press conference right now as we speak, so we'll be learning a lot more about it as the day progresses. republicans obviously deeply opposed to this thing, fearful that democrats will indeed use it to allow spending to go up and up. here is senator john barrasso speaking on fox news this morning. >> we have a spending problem in this country. people all across the country know it. they know it in wyoming. families have to balance their budget every year. many states do. we do in wyoming. it is time for the senate and the house and the president to get serious about limiting our spending and spe
the nation's debt ceiling. you saw pete sessions, the rules committee chairman, filing that rule on the house floor a moment ago. they met this afternoon to discuss the flan which would require both chambers of commerce to pass a budget plan by april 15 or have their salaries withheld. the debt at $16.4 trillion. the meeting is an hour and 20 minutes. >> i want to welcome our -- three of our four witnesses that are here. it's always a fun thing to see a star of the show, everybody wants to get their autograph. mr. chairman, welcome to the rules committee. we're delighted that you're here today to discuss h.r. 325, a very important bill. and i noticed the former chairman of the committee, the ranking member, is here. we also welcome her testimony that will begin. we'll give mr. brady a chance to get here, but the chairwoman, the head of the house administration committee, the gentlewoman from michigan, and delighted that you are here. as always, the rules committee is delighted that you've taken time, both we were excited about your presence today. a chance for you to be before the committee a
to raise the debt ceiling, right? president obama warned he will not enter into another game of brinkmanship as he referred to it over the debt sealing with republicans. >> the issue here is whether or not america pays its bills. we are not a deadbeat nation. if congressional republicans refuse to pay america's bills on time, social security checks and veterans benefits will be delayed. investors around the world will ask if the united states of america is in fact a safe bet. the full faith and credit of the united states of america is not a bargaining chip. martha: a lot of talk about the president's demeanor at that news conference yesterday. we'll get into that a little bit more coming up but for now does this really come down to an issue of raising the spending limit or defaulting on our credibility as the president has talked about. let's bring in stuart varney, host of "varney & company" on fox business network. so, stuart, you feel the way he is framing this is incorrect? >> yes. we're not going to default, period. we are not going to default. the default means that yo
are not a deadbeat nation. we have to pay our bills. is he winning this debt ceiling battle? i know you have written about this on slate. >> i think he is winning intel correct annually and emotional and probably politically with the public but it remains to be seen what congress is going to do. we haven't seen a lot of engagement with congress yet. the debt ceiling somewhere between february 15th and the end of february, early march. we don't know quite exactly where it will be. we don't know whether john boehner and the republican house will look him in the eye and say we are not doing anything. it's a mystery right now. >> in fact, politico reported this week over housealf of house republicans say they are willing to shut the government down if they don't get the spending cuts that they are demanding as a price for raising the debt ceiling. >> that is what they are saying. it's still far enough out so that it could all be posturing. even if i accept it -- and i do -- that half of the house members actually believe that as we get closer, as the pressure builds, c
between now and the time we deal with the debt ceiling, that we may very well be able to meet the goal which we set out to do, which is to have roughly a $4 trillion cut over ten years, and in the long-term deficit and put us on that path. but i didn't come here to talk about any of those important subjects today because, as important as they all are, today we have a more urgent and immediate call, and that is how to deal with the epidemic of gun violence in america. you all know the statistics very well so i'm not going to repeat them. on that score, i might add, oui an incredible debt of gratitude to many of you at the head table as well as those of you in the room. i know we don't have absolutely unanimity in this ballroom, nor do we in anyway ballroom, but we all know, everyone acknowledges, we have to do something. we have to act. i hope we're all agreed that there's a need to respond to the carnage on our streets and in our schools. i hope we all agree that mass shootings like the ones we witnessed in newton 34 days ago, cannot continue to be tolerated. that tragedy in all my yea
warnings about the u.s. credit rating and the debate over the debt ceiling. why some think this could mean new hope for a minting a trillion dollar coin we could use to pay our bills. we thought that was settled. maybe not. and this high school principal is in hot water after trying to connect with students with a video that he says was meant to be a parody. we'll push play and you decide. and a reporter yesterday challenged the president about whether he's doing enough to reach out to republicans and trying to negotiate the big deal he says he's looking for. we'll show you his response and look at what that could mean for the gun debate, the debt ceiling and the rest. >> most people who know me know i'm a pretty friendly guy. and i like a good party. when you have diabetes... your doctor will say get smart about your weight. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. turn your world upside down with gillet
's in south carolina. and this headline in the aiken standard -- then, on the debt ceiling debate, the ways and means chairman has announced there will be hearings on this on january 22. they will be taking a look and that. also in the newspapers this morning, here's the "washington times with this headline -- " he will be our guest coming up, the top democrat on the ways and means committee in the house. later, we will talk to the chairman of the house judiciary committee, representative goodlatte, on the washington journal this morning as well. two members of congress. continuing with the debt ceiling, the financial times this morning reports -- on the nomination of chuck hagel, a former nebraskahe ka senator.m he won the support of two key members. his opposition so far has come almost entirely from fellow republicans. those are some of the headlines this morning in the papers. back to our question, do you support executive action on gun- control measures? now to an independent caller. caller: hi. i just wonder if there are any human beings left. the underlying issue has very little to d
conservatives for their debt ceiling hostage tactics. today it was the editors of the national review who said it was a bad idea. americans for prosperity, which is backed by, yes, the koch brothers, also said it was a bad idea. even newt gingrich, the rotund king of so many boad ideas, has said enough. >> in the end it's a threat they can't sustain. no one is going to defall. no one is going to allow the united states to not pay its bills. >> joining us now from washington is david corn, d.c. bureau chief for "mother jones" magazine and jared bernstein is a senior fellow at the center on budget and policy priorities. good afternoon to both of you. jared, if president obama were the one holding the debt ceiling hostage, right as the housing, auto, and retail sectors seem to be rebounding, wouldn't the house republicans be calling the president's tactics those of a socialist who wanted to bring down the american economy? >> i think they would, and i appreciate your bringing the economy into it. the president did that yesterday. the more we talk about the debt ceiling after obsessing over the fi
illustrate why we are going to have the big fights over the next couple of months to raise the debt ceiling and two-thirds of the republican caucuses voted for this. they want to send a message that they really, really needed it, that they want to cut spending for every doll they put out there, even on disaster relief, which historically has not been required to have an offset. >> and definitely has ruffled feathers in the last congress. all of our viewers i'm sure will rememb how new jersey governor chris christie didn't hold back in showing how angry he was at congress, the house, and specifically speaker boehner when the vote was delayed last time. listen to him. this is on january 2nd. >> new jersey deserves better than the due police tea we saw displayed last night. america deserves better than just another example of a government that has forgotten who is the to serve and why. 66 days and counting. shame on you. shame on congress. >> when you listen to that and when you listen to the house floor and sound bites before , s what you're saying why speaker boehner did what he did in the v
for the debt ceiling proposal. that was from the last time the house republicans threatened the country with defaulting on our debt back in 2011. dennis ross, you probably should have calibrated your place in line a little better. throw a democrat in there ahead of you when you realize that's what you're going to get. get there in time for the repeal prohibition amendment next time. that's more fun. if you have found yourself at home constitutionally -- forgive me, constitutionally incapable of getting excited over having another fight about the debt ceiling this year, if this isn't exciting because it just feels like groundhog day to you, oh my god, i've got reckless brinksmanship fatigue, it is true that it's hard to get excited over something we have done before. it is 2013 now. remember when it happened it was a total disaster. even if you just ignore the political consequences, if you just look at the economic impact, it was a self-imposed economic disaster caused by washington refusing to do something that it needs to do and that it has done dozens of times before. republicans jus
kicks into high gear. congress has just weeks to increase our debt ceiling. fitch, a leading credit ratings agency, says a repeat of the 2011 debt limit crisis would spark a formal review of our country's aaa rating. that could mean a downgrade by them. now you might remember, s&p, a different agency, already downgraded our country in 2011. that was the first time in our history that that happened. the president is taking a hard-line stand, issuing a warning of his own to the gop. >> we have to pay our bills. congress has two choices here. we can act responsibly and pay america's bills. or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. jenna: republicans like congressman jason chaffetz blasting back against the president. >> i think the president was terribly irresponsible today. to say he will not talk about it because he is above it, but blame all of congress, in part congress helped create this problem but we are going to hear to solve this problem. i got elected to
, president obama said that he would not negotiate on the debt ceiling, although he said he is open to more spending cuts. but he insisted that the u.s. is, quote, not a deadbeat nation. >>> walmart, the nation's largest retailer, will announce a plan today to hire every veteran honorably discharged in the last 12 months who wants a job which could mean 100,000 new jobs. >>> former president george h.w. bush was released from a houston hospital after more than seven weeks of treatment for bronchitis and related problems. >>> rand paul faces charges of assaulting a flight attendant on a january 5th flight in addition to underage drinking and other charges. >>> the chicago transportation authority is suing united airlines. they claim the airline is buying its jet fuel 70 miles away to avoid paying close to $300 million in sales taxes. the airline says the suit's claims are untrue. >>> students at the university of vermont should not bring bottled water had they return to campus because the school has banned its sale for environmental reasons. vermont is the largest public university to prohib
if congress doesn't raise the debt ceiling. president obama says he will not negotiate this issue with congress but republicans want any increase in the debt ceiling to be tied to spending cuts. >>> the issue here is whether or not america pays its bills. we are not a deadbeat nation. and so -- there is a very simple solution to this. >> now, in a statement, john boehner indicated the republican party is prepared for a fight. he said "the consequences of failing to increase the debt ceiling are rule but so are the consequences of allowing our spending problem to go unresolved." >>> state lawmakers in sacramento are closely watching this debate in washington. the concern is that if congress doesn't act on the debt ceiling, the national economy could dip and that would likely have a negative effect on california's budget numbers. push >> the biggest risk to our forecast or the analysts' forecasts could come next month and that's from washington, d.c. >> the 2013 budget release by governor brown showed a surplus for the first time in many years and that was thanks to new tax revenue
up and the debt ceiling talks of 2011 led to a budget standoff between democrats and republicans who had taken back control of the house in the mid-terms. >> is there a risk that the united states could lose its triple-a credit rating, yes or no? >> no risk of that. >> no risk. >> the debt ceiling was raised in august, the political fight and the spotlight on the count row's deficit and debt problems led s&p to downgrade the u.s. credit rating for the first time in history. >> geithner steered the major economic moves in the first term, now he's stepping down at treasury. the pick to replace him is jack lew, who has established a close relationship with the president. he is know chummy with the republicans on the hill after the debt ceiling negotiation. for that reason and other, his looming confirmation hearing could be bumpy. but if confirmed, lew will likely be dealing with the top issue in this second term, how to get the economy moving and addressing the count re's long-term fiscal problems. >> this is a president that is forced to grapple to the tenor of our times with the budg
the debt ceiling or later on over the continuing resolution to? finance to? -- or the continuing resolution to finance the government? guest: i've only been here two years. i truly believe that when i ran and even more so now, we are a nation at risk. every american, regardless of political affiliation. so we have to reduce federal spending. this is the time right now. some of my colleagues were saying let's get through the fiscal cliff and the real fight is the continuing resolution or the real fight is the debt limit. i hear that and it goes on. host: where do you insist on spending cuts? is that the debt ceiling or the continuing resolution? guest: it is that every point. host: all of the above? guest: yes. when the president says he wants a balanced approach, i believe him. i was looking for the simpson- bowles model, fighting for least 2 to 1. i was hoping for 1 to 1. i was disappointed and deeply surprised we did not get that in this fiscal cliff. here i was as a republican, so often introduced on tv shows and news shows, "coming up, a republican who says we need higher revenues." an
did that get him? a debt ceiling crisis, charges of being a foreigner, and total war on health care reform. well, now the president isn't asking anymore, he's demanding. you know what? it may just work. >>> beating the neocons at their own game. the neoconservative industrial complex put all its weight behind defeating chuck hagel. it looks like they're going to lose. could it be the neocons are a spent force? could we be that lucky? >>> and back in the ussr. yet another republican cites the soviet threat. they're still fighting the cold war. they want the cold war i guess. that's in the "sideshow" where i hope it stays. >>> let me finish with my own thoughts about alcoholism and addiction and how it tragically struck down one of the most prominent political families in our nation's history. and this is "hardball," the place for politics. ve decided to put aside our rivalry.ed to 'cause all our states are great. and now is when the gulf gets even better. the beaches and waters couldn't be more beautiful. take a boat ride or just lay in the sun. enjoy the wildlife and natural beauty.
not negotiate on the debt ceiling although he said he's open to more spending cuts but he insisted the u.s. is, quote, not a dead beat nation. officials in stratford, connecticut, plan to rename an elementary school in honor of victoria soto, a teacher killed in last month's newtown school shooting. officials say she died trying to shield her students from the gunman. >>> walmart will announce a plan to hire every veteran cha wants a job, which could mean 100,000 new jobs. >>> george w.h. bush was released from the hospital after a month. >>> william paul, son of kentucky rand paul, faces charges of assaulting a flight attendant on a january 5th flight. in addition to underage drinking and other charges. >>> the chicago transportation authority is suing united airlines, claiming they are buying its jet fuel 70 miles away to avoid playing close to $300,000 in sales taxes. >>> students at university of vermont should not bring bottled water when they return to campus because the school banned its sale for environmental reasons. they are the largest public university to prohibit bottled water on
. the way the republicans are threatening to use the debt ceiling delays everything and it puts the perspective in the wrong place. i think it is a serious mistake for them to even think about that. you were talking earlier about the articles this morning saying how dangerous it is to use the debt ceiling to essentially put the full faith and credit of this country in real jeopardy. so i'm very concerned about the consequences of doing that or even threatening to do it immediately and, also, it really shifts the focus, instead of it being on the debt ceiling, it should be elsewhere, including tax reform. host: if tax reform does not happen in 2013 -- guest: it may not happen. host: what is the impact of that? what is the implication? guest: i have said all along it is important for us to look beyond the label "tax reform." for example, we urged early on tax reform bringing the rates down to 25% individual and corporate, they -- without indicating how in the world they would do that. some said, we can use the exemptions and deductions. we have already begun to use them, i hope, i
and pushing us up against the debt ceiling. but remarkably, president obama is now calling for even more taxes, more spending, and more borrowing in return for any future spending controls. he said yesterday that we can't finish the job of deficit reduction through spending cuts alone. simply put, the president got his tax increases in the last congress. it's time for this congress to tackle washington's spending bing. i'd like to recognize the gentlelady from indiana. >> mr. chairman, my message otoday is simple. on too many big items, congress has been kicking the can down the road for years. it's time to supply real leadership on the most pressing challenges we face. this is the only way we can restore trust in congress. we're fast approaching a dead end. the social security trust fund will be bankrupt in 20 years. medicare and medicaid are not on a sustainable path. it is wrong for us to make proppingses to the american people we know we cannot keep. ms. brooks: we must address the drivers of our debt, medicare, medicaid, an social security. not because these programs don't have merit and
the government running. they only have about 4-6 weeks left before the nation hits the national debt ceiling. republicans are calling for budge cuts in return for raising the debt ceiling, but president obama came out swinging during his news conference on monday claiming he's already gone a long way toward closing the budget gap. joining us now to fact check some of his statements, stephen hayes, a senior writer for the weekly standard and a fox news contributor, douglas holtz-eakin is now president of the american action forum. just as a general rule, steven, when you heard the president speaking in that news conference, was he generally being honest with the american people about the state of our finances? >> well, i would say there were some things he said that were true, some things that he said that were, i think, misleading. importantly, he didn't put into proper context the discussion that we're having nationally about the debt ceiling and about the state of our finances more broadly. if you look at where we are, more than $16 trillion in debt, the president is right when he says tha
with the gun control measures in washington d.c. still continuing debate about the debt ceiling and whether or not this is going to be another fiscal armageddon here in our nation's capital. everybody gearing up for the big inauguration ceremonies this weekend. the unofficial-official swearing in the one that really counts at the white house on sunday. a very brief like five-minute ceremony because that's the day the president's term runs out then the big public ceremony in front of at least a million people on the west steps of the capitol on monday. over in algeria very troubling situation where terrorists surrounded natural gas plant yesterday and took several hostages including seven americans, secretary of defense leon panetta calling it an act of terror. we've got a lot to cover. let's get right to it with team press. peter ogborn and dan henning to start off the team. >> hey hey. >> bill: cyprian bowlding has the cameras going. phil backert is standing by to take your phone calls. you know, i'm really tired this morning because i had to stay up late last night. i couldn't go to bed w
this week. on monday he warned republicans to not even think of using the debt ceiling as bargaining leverage. let's listen to him. >> but they will not collect or ransom in exchange for not crashing the american economy. the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not at bargaining chip. >> on tuesday following a meeting that took place in the west wing, president obama surmounted a huge hurdle in the nomination of chuck hagel to be defense secretary when influential new york senator chuck schumer gave it his blessing. yesterday the president forcefully and emotionally laid out his proposals to curb gun violence and challenged americans to confront the representatives and stand up to the nra. let's listen. >> ask them what's more important, doing whatever it takes to get an "a" grade from the gun lobby that funds their campaigns or giving parents some peace of mind when they drop their child off for first grade. >> joining me is former rnc chair and machines contributor michael steele and de
and not do our job which is unforgivable as a way to make these policies. second, you have the debt ceiling. it is the wrong thing to hold the country hostage. it's also going to be a play we know there's could be a fight over the debt ceiling. in the past the debt ceiling reminded folks we were borrowing too much and we needed to make changes. it could be a useful reminder not if it goes as far as people really start to worry about in the u.s. government and economic damage which is what we saw last time. the third piece of the resolution the fact that government spending is going to expire and these three issues is another kind of fiscal cliff and the question is is it going to force action with the hardest pieces that are still remaining were the fact when it comes to the fiscal clef they still for all intensive purposes it's good we didn't go over the fiscal cliff, it's good we raise revenue, but we basically did what we always do in washington which is we punted all the hard choices and a sort of tried to declare a bipartisan victory. but it wasn't theirs of the question was what's goi
in congress to secure a innovative deal and help to close the 2011 deal lifted the debt ceiling. and most recently the vice president has been leading the way in the president's push for workable gun safety policies. on thursday, biden spoke for almost an hour at the meeting of the u.s. conference of marz and acknowledged that the white house is likely okay come under criticism for many of its gun proposals. >> we'll take this fight to the hauls of congress and take it beyond that. we're going to take it to the american people. we're going to go around the country and make our case and we're going to let their voices, the voice of the american people be heard and we'll be criticized because people say if we spend that much energy we're not spending enough energy on umm grags. we're not spending enough 234r7b8g on the miss energy on the miss kwal problem -- on the fiscal problem. presidents don't get to choose what they do. they deal with what is before them and what they'd like to long term. >> governor, i'm curious to get your thoughts on the package of reforms. it was interesting that t
was not rewarded. taking the debt ceiling hostage was not rewarded, calling the obama health care plan -- which was their own only a few years earlier -- socialism was not reward withed. rewarded. that means they have to begin to rethink themselves and, importantly, democrats will not automatically embrace the same tactics in opposition. so i think that was the important change that creates a new dynamic not that's going to solve our problems. there's going to be no sitting around the campfire in washington making nice to one another. but the possibility now exists for a real effort and a successful effort to deal with our most pressing problems. >> host: two familiar washington faces, thomas mann and norm ornstein. "it's even worse than it looks." this is booktv on c-span2. >> is there a nonfiction author or book you'd like to see featured on booktv? send us an e-mail at booktv@c-span.org or tweet us at twitter.com/booktv. >> host: and now joining us again on booktv is senator rand paul. his second book, "government bullies." senator, who are the bullies? >> guest: well, all throughout your go
yesterday talking about the debt limit, debt ceiling. he's talked about our economy. i think it's worth noting that since 1923, when the president was required to furnish a budget in a time deadline given for furnishing that budget, 90 years, 90 years the president is required by law to furnish a budget. since 1923 those, those ensuing 90 years, there were apparently 11 times when presidents have been unable to get the budget to congress as required by law. and most of those -- well, some of those 11, there were very good reasons. but it's interesting to note in the last 90 years, out of the 11 times that the budget from the president has been late, four of those 11 have been under the obama administration. we're also informed that there is a chance once again, like there was a year and a half ago, that our credit rating of the u.s. could be lowered again. by another credit rating agency. some have tried to paint it as a different story, different picture, but for those of us who recall what happened, s&p made it clear that they didn't believe that the united states was serious about de
, and what's on the agenda is devising some sort of house bill that would raise the debt ceiling and pair it with entitlement or other spending cuts. you know, there's differing theories about how long, you know, one or two years which is what the president talked about. we've heard a couple of months, we've heard four years. you know, but there's sort of a principle that they're using which is equal amount of deficit reduction for the amount the debt ceiling is raised. so if you're going to raise it by, you know, $3 or $4 trillion, we're talking about sort of massive reforms probably along the lines of the paul ryan budget which cut $5 trillion in spending. you'd see things like block granting of medicaid and food stamps and, you know, i don't think that they would put in what's called a voucher system or premium support system for medicare. that was, you know, pretty much trounced during the election. but we'll see. you need something with big numbers in order to -- [inaudible] more or less it's probably a smaller debt ceiling increase. and they also need to decide what to do about two
the debt ceiling, the first question he got from the press today was about guns. >> the vice president and number of members of my cabinet went through a very thorough process over the last month, meeting with a lot of stakeholders in this, including the nra. listened to proposals from all quarters, and they've presented me now with a list of sensible common sense steps that can be taken to make sure that the kinds of violence we saw at newtown doesn't happen again. i'm going to be meeting with the vice president today. i expect to have a fuller presentation later in the week to give people some specifics about what i think we need to do. my starting point is not to worry about the politics. my starting point is to focus on what makes sense, what works. what should we be doing to make sure that our children are safe. >> the president and his press conference today didn't announce this as if it were news, but this is news what he just said. remember, when president obama asked joe biden to head up this effort looking at potential reform, remember, he initially said the effort was suppos
obama also has big battles looming over the debt ceiling, budget, immigration. he's already taking heat over the makeup of his cabinet. not enough women. let's talk about that later in the show. >>> and none of the president's second term agenda will be easy with the republicans in congress. take texas congressman steve stockman. he replaced ron paul and is making noise about impeaching the president. it's his second go around in congress. in '94 he was considered far to the right. now he fits in with some of these people. it says a lot how far they have come. >>> finally let me finish with a need for republicans again to choose sides. the wild bunch or the posse? this is "hardball," the place for politics. [ man ] ring ring... progresso this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this soup. >>> coming up monday, president obama wi
in the house of representatives. ronald reagan raised the debt ceiling when necessary without complaint, and raised taxes more than once. and reagan was in favor of a ban on assault weapons just like president obama. >> right, and that comment was a way of saying that these are very centrist reforms, really common sense things that most americans agree with. he emphasized that in a few ways and a few times during that time. and i think the framing you're talking about, too, is really important. it is not just guns they're looking at. they're looking at mental health and research, links between violent media. you know, they are looking at more armed school resource officers at schools and providing funding for that. but i think constantly framing it, these are things that just make sense that the majority of americans support. and how can the republicans be so intransigent, not be even willing to discuss or consider any of these measures. >> richard, a month ago we heard the pundits say hand it off to joe biden and you will be involved in a senate committee process and lose all the momen
of the upcoming debt ceiling and laid to waste by the end of the tax holiday. rich people stopped dead in their tracks by new tax hikes. one so steep we were supposed to switch to peanut butter and jelly sandwiches rather than dining at three-star restaurants. pass the skippy, keep the foie gras. we find out we had the highest housing starts since the boom, double where we were not that long ago, and the analysts were determined to tell you housing is about to go all tepid, numbers don't fit into the scenario, not a negative one and that's the story of the market right now bullish backs getting in the way of the bearish story. now, i will tell you on any given day, we're capable of a serious swoon and we are due for one. holy cow. maybe dow and intel not so hot tonight can cause one sell, sell, sell. this feels like a moment like the mid 1980s where the bulls areaa lay boeing. it seems like when i was a young, curly haired kid. i want to see the amazing con colombia ra glomerate. one of those rare things, when you can get an audience with an investment titan. he heard i had a hot hand.
crisis it seems every couple months. we had the debt ceiling, the fiscal crisis, and that's really the tip of the iceberg that is coming our way based on unbelievable demographics and unbelievably unsustainable government spending. what i want to do is take what i learned and hopefully apply it to again a great conundrum that now exists in washington, which is how do we get our financial house in order? >> i wish you all the very best. thank you for joining me again tonight. it's a pleasure to talk to you as it was last time. i genuinely wish you well. i'm glad you're making another go at this. good luck with it. >> i appreciate it, thanks. >>> a critic who says newtown changed everything, but the nra doesn't get it, and the gun advocate who says america doesn't have a gun problem. they just have a values problem. my doctor told me calcium is efficiently absorbed in small continuous amounts. citracal slow release continuously releases calcium plus d with efficient absorption in one daily dose. citracal slow release. stay top of mind with customers? from deals that bring them in wit
. he still faces an unresolved fiscal situation and looks like republicans may be extending the debt ceiling by a few months but still has major budget cuts to deal with this spring. do you see his relationship with republicans improving at all as they try to fix this crisis? >> it is going to be a real confrontation, the republicans did blink. that's exactly right, bianna and said they don't want this over the debt limit that was supposed to hit in february and extend it, as he said, probably until april. the president will sign that which gives them a space to try to come up again with some kind of big budget deal before those across the board budget cuts hit in march and the government is set to shut down at the end of march. there is no question that these big fiscal issues, taxes and spending will define the first quarter of the president's second term. >> george, talk about this term, the second term curse. we -- reagan had iran-contra, nixon had watergate. clinton had monica lewinsky. why is it that they tend to go sour. >> lyndon jonls had to resign before he ran because of v
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